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for us to go over the fiscal cliff and then taxes will rise, right, but then congress will reconvene on january 3rd and vote to cut taxes. is that appliable solution in your mind? >> it kind of it, pretty much what i feel will happen. they have a little bit of wiggle room. the majority of this is not going to be felt until 2014 for the majority of the income tax rise so that causes congress to force them to make a deal knowing that we actually are operating under a higher tax rate right now, even though americans won't feel it, so it's almost like an additional leverage for those who actually want to make a deal and get something done. i just want somebody, like starbucks, we all need to come together. >> and quit kicking the can down the road, darn it. >> exactly. >> ryan thank you for being with us this morning. >> thank you. >> ryan has been with us all week tackling the fiscal effects on your pocketbook. tomorrow, what the fiscal cliff means for your retirement. >>> from the strange case of the technology pioneer john mcafee on the run to so many tragic shootings, we have the top
to go south? >> that's right. happy new years, america. we appear poised to dive off the fiscal cliff starting with a round of finger pointing today. this is classic gridlocked washington. why america is fed up with the lawmakers and all about pointing fingers, gaining the upper hand here. and also, gaming this out because if we do dive off the cliff an we don't get a deal in the next couple of days, which looks increasingly like where we're headed then we come back in january and have to negotiate again and a political advantage for both sides if that's the case. >> her's the thing. even if a deal does get done at this point, it's a small deal. much smaller deal than both sides said they wanted several months ago. the debt ceiling, will be back in two months. there's a good chance we are going to be revisiting a budget issue in march, as well. is this the new d.c. zachary? >> well, it's kind of an old d.c. and the current version, you know, 4.0. and you're absolutely right. it's convenient because there's a news hook for the fiscal cliff for january 1st and calling this now b.c. befo
the markets overall going up. but right now make no mistake about it, the fiscal cliff doubts in getting to january 1 without some kind of even a patchwork deal is what's driving the markets right now in negative territory. >> as we know, it's not a cliff, it's really a slope or series of steps as you're falling down them should a deal not come to pass here. is the drop that we've seen so far after plan b's failure, will we see yet more of the market reacting, a slow degradation of market performance? >> that depends on essentially if, for instance, a week from monday right now we're sitting here and it's almost a certainty that we're going to go over the cliff. i would argue that we could get more back to a cliff rather than slope analogy because it comes down to how swiftly does the market react in a negative way and how swiftly is the fallout on the overall u.s. economy. for example, we're getting reports from around the country that, number one, retailers have lowered their forecast on what the christmas shopping season is going to look like. we're hearing that one of our reporters w
of urgency if we fail to avoid the fiscal cliff, go over it and the markets react badly to it. right now people want us to come together in a bipartisan way. the absolute has to be bipartisan in the house. we've seen that in the last week. not even plan b, which is an unreasonable alternative to the too,000 threshold was able to garner a majority in the house of representatives. the speaker can't sell it to his own party, so i think he has to craft a bipartisan solution one way or the other, put aside the politics here. the nation's economic will suffer. >> should it come from the senate or from the house? >> i don't think it matters where it originates, but the point is the senate has already passed a bill that represents a reasonable compromise. extend the 250 -- the tax cuts for all incomes up to $250,000, and everybody would benefit on that first $250,000 of income. that it not only protects the middle class against huge tax increases on january 1, but also benefits many americans making more than 1250,000, because they will see the tax cut extended on their first $250,000 in income.
. >> with that perspective, how did the country get to the situation that we are in right now, not just the fiscal cliff but the debate over the deficit and the debt that is behind this? >> well, if you go back to 2001 and thereafter, the cost of the war was not included in the budget except the military and the defense budget. but the additional costs were not reflected in the budget. there were always supplementals. so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right now. people might have felt differently if they had felt the pinch right at that time. we would have asked different questions and were asked, and i think that is one of the reasons we got where we are. and
than five days to go before falls right off the fiscal cliff. the senate back in session today and it's the first time the senate or house has met for business between christmas and new year's in more than four decades. president obama cut his hawaii trip short arriving in washington early today. for now, the house of representatives is not in session but we've learned those lawmakers are set to return this weekend. today the senate majority leader, harry reid, says we've just about run out of time. >> if we go over the cliff, and that's where we're headed, mr. president, the house of representatives as we speak with four days left after today before the first of the year, aren't here with the speaker having told them they'll give them 48 hours notice. i can't imagine their consciences, out wherever they are around the country and we're here trying to get something done. >> we're awaiting reaction from the senate minority leader, mitch mcconnell. when that happens we'll go live to the senate floor but a spokesman for john boehner says senator reid should talk less and legislate more.
summer is what led to the fiscal cliff we're facing right now. just one more complication or bargaining chip. remind us, you're the best at putting this in perspective. remind us why the debt ceiling is just as important as the fiscal cliff. >> let me take you back a little while. to the conversation about the bun ji jump. here's the problem. confidence doesn't react to a bun ji jump. if you stole my phone and then i got it back from you, it would take that time before i develop that trust wp we saw the consumer confidence numbers come out and they have taken a big hit because consumers are worried about the fiscal cliff. the investing side is our debt raiting, you'll recall the last time we messed around with the debt ceiling, we got kicked down a notch. so if we are seen to be so irresponsible we would do this again and get past our debt limit, the world may sit there and say you're not that good. maybe americans are irresponsible with their money. we hit the debt limit on money. we have known that was coming. the treasury secretary reenforced that. this is a problem. they can fiddle
.c. and some starbucks in washington, d.c. deciding to jump right into this whole fiscal cliff debate. coffee baristas are -- they've been told to write on coffee cups to say "come together." so they're writing this handwritten message saying come together as a way of encouraging politicians to come together and get this fiscal cliff cliff thing done. no word yet on when people get extra lattes, where they can write get your lazy ass off vacation. >> willis likes that a lot more. >> i womdzer if there's enough room. >> if you're looking for love, you better have a good credit score. take a look at this. ♪ >> okay, yeah. we're not going to say we're going after those guys, but it's the credit score guys. "the new york times" is reporting that credit scores is huge and that could be at the top of the list. they interviewed people across the u.s., and a newspaper discovered a low credit score is a deal breaker in search of love. so if you don't have your act together, take care of that and maybe you'll find love. >> can you imagine, hi, how are you? what is your credit score? >> 420. no, mine
friendly in a few days. we are watching right now the fiscal cliff negotiations and traders are watching closely and it is a flat morning as they are on both sides of the aisle trying to work that out. >>> and now dave clark and pam cook are both off and we continue with ktvu channel 2 morning news. >>> there was a police shooting overnight in walnut creek. christian captain is near 680 with new information he found out within the past hour, christian? >> reporter: we have been on the scene since 4:30 and there is still a sizable police presence and we have seen some units just leaving in a few minutes. we have learned of course this was an officer involved shooting. if you take a look from our vantage point, the scene is at that brick wall you can see in the distance. police confirmed it all started as domestic violence and we have learned that the initial 911 call came in shortly before 3:15. >> we received 911 call transfer from the fire department at 3:13 this morning. there was screaming on the line. officers were dispatched and arrived within minutes. we received a radio transmissi
. and we will be following the fiscal cliff talks tomorrow. and clayton, you'll be hear, right? >> clayton: i will. so send us any of your questions as well and your thoughts. our -- go to our web site for the after the show show. >> gretchen: happy new year, everybody. gregg: fox news alert. powerful winter storm bringing deadly weather. >> oh, wow. that is a tornado. jesus, look at that tornado. it is like two tornados. it is two funnels on the frowned. oh, lord. look at there. wow! look at that. gregg: the storm system that produced those tornados in parts of the south not done yet. now posing a potentially major roadblock for countless holiday travelers. hello, i'm gregg jarrett in for bill hemmer. >> i'm patti ann browne in for martha maccallum patti ann: local crews said there is only one thing that could have accused the damage. >> one thing they saw damage indicative of tornado damage. we had homes 90% destroyed. that doesn't happen with straight line winds. >> you have a lot of damage. people hurt and i went out with the skid steer. we rounded up equipment. we started opening the
to the edge of the fiscal cliff. will every american see their taxes go up when that famous ball drops? our chief white house correspondent jon karl on the behind-the-scenes scramble tonight. >>> on ice, the deadly accident in the west. the frigid system moving into the east, just as many dig out from more than a foot of snow. meteorologist ginger zee standing by tonight. >>> caught on tape, the chilling new view of that deadly crash landing, the jet spinning to a halt feet from a bustling highway. tonight, who authorities are now zeroing in on. >>> and amazing grace. what we're now learning about the presidential serenade from the oak ridge boys. ♪ amazing grace how sweet the sound ♪
will go taxor everyone on january 1. >> glor: nancy cordes in hawaii. nancy, thank you. the fiscal cliff could mean severe cutbacks and layoffs in cliff couelds, like many medical research. that's forcing leaders to make mugh choices right now. here's wyatt andrews. he andreporter: professor kerri mowen, like hundreds of medical kerearchers, has already fallen off the fiscal cliff. her budget-- which relies on of federal grants-- is being cut by - % now as the n.i.h.-- the national institutes of health-- prepares for the possibility of utes of hes later. >> it's much bigger than just my lab. it's affecting all academic labs across this country. >> reporter: mowen, who studies rheumatoid arthritis at the scripps research institute in california, understands the n.i.h. decision but calls it a t aback. >> my lab will have to shut down t dearch projects that we know could have profound impacts on curing human disease. we may have to get rid of some staff members. >> reporter: the n.i.h. tells us >> secause of uncertainty in the budget awards at 90% of what was promised to researchers will be
's all because of the worries about the fiscal cliff. suzanne. >> all right. let's just listen in, and i'll bring you back for a bit. ♪ >> all right. there you go. allison, i want to bring you back for a couple quick questions here. we know the stocks are down, fiscal cliff. talk about what we think that means for us if we end up going over the fiscal cliff and you're looking at a lot of tax hikes as well as spending cuts. >> yeah. you have to believe if we go over the cliff that some sort of deal will happen up. if not within the first couple days of year, maybe the first couple weeks. what may happen is an impact right away to your paychecks in the early weeks of the new year. here is an idea of what we're in for anyway. we're going to see a lot of tax changes. payroll tax holiday. that would expire, and that means that the amount taken out of your paycheck would go from 4.2% to 6.2%, so that means if you're making $50,000 a year, it means $83 a month comes out of your paycheck. over the cliff it means you have a delay in tax refunds for the 2012 returns and that's because there's ye
comforts that town right now. also this morning, a rather dire prediction about the fiscal cliff and what might happen when lawmakers return later this week. it's a pocketbook issue for all of us. >> some people are expecting to maybe go right over that cliff. >> more likely than a couple days ago. >>> and later this half hour, the christmas edition of our insomniac play list. your favorites performed with an updated beat. putting a new spin on some of the old christmas classics. >> good to see ceelo hanging out with the muppets there. >>> topping our news right now, the nra is not backing down from its call to place armed officers in the nation schools. >> congressman chris murphy whose district includes newtown calls it tone deaf and also revolting. >> reporter: from the brooklyn bridge in new york to the sidewalks of falls church, virginia, anti-gun protests are springing up around the country. the debate on gun control has also triggered a run on gun shows and gun stores. sales are soaring as people rush to buy assault weapons before a possible ban. >> we're completely out of the so-c
hit the debt ceiling the day after we follow off the fiscal cliff if no deal is reached. >> that's right. december 31st. a lot going on there. a lot of these budget calamities coming together all at once. economists already warning the fiscal cliff situation could cause another recession. now we're about to hit the nation's debt ceiling. secretary geithner in a letter to congress did go ton say, quote, he would take extraordinary measures and say these extraordinary measures can create approximately $200 billion in head room under the debt limit. under normal circumstances the amount of head room would last approximately two months. however, given the significant uncertainty that now exists with regard to unresolved tax and spending policies for 2013, it's not possible to predict the measure. because of the uncertainty of the fiscal cliff they don't know whether they have enough head room to make sure the nation's debt ceiling doesn't reach limit within two months. the bottom line is even if we deal with the fiscal cliff in the next few days and avert that. there is another crisi
a way we avert the fiscal cliff at this point with how slow the senate operates, no plan right now, house is nowhere, and it's almost january. >> highway to the danger zone, jake sherman, politico, thank you so much for joining us, we appreciate it. >>> developing news on president george h.w. bush's health. this is "andrea mitchell reports" only on msnbc. we've all had those moments. when you lost the thing you can't believe you lost. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid card. spends like cash. feels like membership. >>> and developing news on a story we've been following here for days args spokesman for former president george h.w. bush is telling nbc news doctors have seen a, quote, slight improvement in his condition. this morning, joining me from houston on the latest on the 41st president's health. little bit of good news, charles. >> reporter: certainly is, luke, i spoke with a spokesman
, millions looking for work and what's the fiscal cliff mean for them? >> reporter: okay. we have unemployment at 7.7% last month and mainly went down because people gave up looking for work and jdropped out of th job market and out of work six months or longer. 4.8 million americans, they're the folks worried the most about unemployment benefits not extended after the first of the year. >> as we look at that number, that's staggering for so many. we have a "the washington post" poll that indicates 74% of americans support raising taxes on the top earners in this country. with that support there, the presidential mandate of re-election and the fact he ran on raising taxes if he was given a second term, why is there such this stalemate and trepidation in washington, d.c. to get a deal done? >> reporter: how many hours do we have? let me try it this way. there's a group of hard core tea party republicans but democrats say we won because as your poll shows most americans support the president's position on higher taxes on top earners and seemingly at this point about leverage rather
press that folks are starting to accept that weekend in fact plunge right off that fiscal cliff. after all we are a little more than a week away from the deadline when the spending cuts and push us back into another recession. lawmakers do plan to return to washington later this week to try to hammer out a last-minute deal. for now president obama and the first family are celebrating christmas in hawaii and that's where our ed henry is traveling with the president now live in honolulu. ed? bottom line the president is here in hawaii but might not be here for long. shortly after christmas likely to go back to washington. try and broker some sort of a deal. you remember before he left for hawaii, he announced that he wanted more of a short-term deal. sort of scaled back stop gap measure so that that big grand 4 trillion-dollar. instead he wanted to extend tax cuts for the middle class. he wanted to extend benefits for 2 million people that will lose those benefits a week after christmas. republicans are saying they think the president actually wants to go off the fiscal cliff for politic
%. superstorm sandy and the looming fiscal cliff disrupted the shopping season. >>> and if you are returning my holiday gifts, have your right and a lot of patience. usa today reports 14 of 25 on-line retailers in one study are issuing refunds slower than last year. for in-store returns some retailers have shortened return windows and are charging restocking fees, especially for technology. >> thanks. >>> straight ahead on your morning wednesday news, weather is coming up, and lebron james takes it to the oklahoma city thunder in a rematch of the nba final. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ ♪ i got it made, i got it made ♪ ♪ i got it made fresh at subway ♪ ♪ breakfast made the way i say ♪ [ male announcer ] at subway, you got it made. try a steak, egg white & cheese, tricked out any way you want. subway. eat fresh. but the acidic levels in some foods can cause acid erosion.
the fiscal cliff, right? come back to work and let a majority in the house, republicans and democrats, work their will. let democracy work to protect the middle class. it is essential we pass the extension of unemployment insurance. that is why the president has been very clear on that since day one that it should be a part of any plan. these are people who are out of work through no fault of their own. they are looking for jobs in what is still a tough economy and providing unemployment benefits provide more security for those americans and their families, but it is good for everyone else also. those people have a little bit more money in their pockets to spend on goods and services to support their family which is good for everyone else. when they are spending money, businesses can sell more goods and services and we have some small business representatives here who know very well that the more people have money in their pockets, the more customers they have with money, the more they can sell their goods and services, and the better off the country will be. let's get back to work. allow t
:47. starbucks will tackle the fiscal cliff one cup at a time. the ceo how old shut wants workers in the -- howard schultz wants workers in the d.c. area store to write come together on the coffee cups they serve today and tomorrow. he says it's the company's way of respectfully telling politicians they need to find common ground. >> if people would get in the room and lee their ego behind and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> now this is just a suggestion from the ceo of starbucks. and employees won't be forced to write anything but a customer's name on the cup. >>> news around the nation this morning, hawaii's governor announced lieutenant governor will fill the u.s. senate seat vacated by the death of daniel inouye. he has said he'll be in d.c. today sworn today in. he says he will seek election for a full term in 2014 but a special election will be held to fill that spot until 2016. inouye was the second longest serving u.s. senator of all time. >>> toyota has agreed to set al lawsuit. you p
and the fiscal cliff. it's not looking too good right now when it comes to the u.s. economy. >> geithner told congressional leaders that his department is using some accounting measures basically a fancy way of saying they're going to try to free up some cash to hold off, temporarily, this fiscal cliff. but it's still not looking good. >> i don't know about you at home, but kicking the can down the road, this has been happening over and over again. somebody has to make some decisions here. >> it's like in this business, they give you a deadline and you have to hit the deadline. there's no coming in and saying take another ten minutes. it don't work that way in real life. there are americans out there saying, get off your couches, get back to washington, and get the deal done. >> sometimes it's not pretty you when you have to rush, but, hey, get it done. >>> still on the economy now, new signs of a turn around in the real estate market. for the first time since 2006, average housing prices may end the year on an upward trend. good news there for the economy. real estate prices in 20 cities wer
to a fiscal cliff. thank you within kelly. jonathan, i want to turn to you right here. harry reid was not holding back this morning on the senate floor. i want to play what he said about the 435 members in the house. >> there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. the speaker just has a few days left to change his mind. but i have to be very honest, mr. president, i don't know timewise how it can happen now. >> and we just heard from kelly about this possible new deal the president has sent over regarding the fiscal cliff. harry reid, though, there's not a lot of time left. >> no, there isn't a lot of time left. what the majority leader is referring to is we've been talking about a lot, the majority of the majority real that if boehner would put aside this tradition that if he's going to get anything passed, it has to be passed bay majority of the republican caucus. clearly there have been times on the little and in the house when boehner could have passed many bills
. the fiscal cliff might seem extremely large right now. we look at the more long-term view, a small blip on the overall screen. we'll see a lot of volatility but can you deal with the volatility and if it's causing to you lose sleep it might have an indication you might want to make some changes. >> it's hard not to have a knee-jerk reaction. before we get to that talk about tax deferred accounts. how will the fiscal cliff affect them. >> this is the beautiful part about this is that the biggest concern individuals are having that we've worked with and talking to, what is going to happen with my taxes? what is going to happen with my dividends taxes, capital gains? so the best part about it, if you're dealing with non-qualified accounts you might have to be concerned about that but qualified accounts or tax deferred accounts such as your 401(k)s and individual retirement accounts, roth and traditional, these accounts are tax deferred and many 509 plans, college savings plans, different types of concept are tax deferred and some are tax free such as 529 so maximize this and eliminates the
from san jose. ktvu. >> we are less than a week from the fiscal cliff. the united states senate convening right now. we want to show you a live if picture. there it is. that's the senate majority leader. the senators are right now meeting to discuss the economic deadline and coming up at 7:15 we will have more on the fiscal cliff negotiations and how we are closing in on another financial barrier, that debt ceiling. >> let's go to tara filling in for sal. there is another accident in napa. >> we have a two car crash on napa road. that person is trapped inside of the car. chp working to get them out as well as police. we have another incident we want to mention. 880 northbound at 92 split. a solo spin out. it's close to traffic so they are running a break. here is a look at maps where 680 southbound, actually we will go to 101 in san francisco. you can see we have traffic flowing nicely in both directions. finally a look at maze. you can see traffic also flowing very well there on the far right hand side of the screen. let's check in with mark. >> good morning to you. we are t
dive. >> all right. so what can you leave us with? housing is good? >> fiscal cliff is bad. >> is that a net-net? >> i think the housing is good but the housing isn't great. everybody's talking about housing like it's going to carry us some place. it's just not going to drag. but it's not going to be a boost and i'm still very concerned about where the economy is going. >> is there any way that we've over -- sort of had too much anxiety and angst about the fiscal cliff or not? >> i don't think there's been much anxiety. and i talked to my brother and sister in suburban detroit. they're not in the financial world and they're always talking about the fiscal cliff. my wife has the same thing with her brothers and sisters, they're not in finance but it's what everybody's talking about. everybody's worried about it. but the experts tell us that we're not going to go over the cliff so they know it's there but they don't think we're going to go over it. so we'll see. >> i hope you're right. thank you for being here. >> coming up, is washington ready to go cliff diving? we're going
the latest gallup information on what americans are feeling right now, gang. about the fears of the fiscal cliff. deal likely at 50%, deal not likely at 48%. and this is gone down continually as we have seen, lynn, over several days, whether more optimism before the christmas holiday and continues to evaporate the closer to the cliff but talking about what the president can do coming back, can it about a small stop gap measure to save people after the 1st? >> it could be and i've always thought that the they know if they don't at least do a stop gap which is in their power, therefore, they would probably do it. it means that the december deadline, december 31 deadline that's looming may not really be the deadline. i think it's more like january 3rd, noon, when the new congress is sworn in. that's when they have to do their math to see where do they have -- if there's any hope of a deal, a democratic deal, where you need 20, 30 min votes or true bipartisan deal and no one thinks will happen. now people are just working some numbers to see which would work best if you don't get anything by t
that help the fiscal cliff we are in right now? second question, with our history of wasting so much taxpayer dollars everywhere we thisn this fashion, isn't why we don't get much help from our allies when we go to war, because they know the end result? that they would be wasting money as well. they probably know this from colonial times. thank you. pinkberrry is a certain amount of waste in any war. -- i think there is. i spoke with a very smart colonel in kohst province. he said the american people don't expect us to be proficient, but they do expect us to be effective. i thought that was a great way of thinking about. the question me after have is, given the amount of money being spent in blood and treasure, and has been the outcome? to the second part of the question, do our allies know we waste a lot of money and so that why they're not so forthcoming, the stories that i hear back to do with the they know we will pick up the tab, so they dodge as long as they can. a recurring theme is we want it more than they do, whether it be the taliban -- or the afghans your working with on
inflation. >> right. >> and the fiscal cliff business is a big deal. it's a potentially big game changer. i didn't think there was a chance we would go over really until the last couple of days. now i'm thinking there could be a bungee jump where you go over for a couple days and come back. >> if you're a market timer and you believe in your bungee do you think there's going to be an opportunity? >> absolutely. because i truly believe. the good news is, is this is setting ourselves up for true entitlement and tax reform in 2013. it could be six months from now. it could be a very difficult first six months. >> you're looking for a baby deal now? >> there's probably going to have to be a baby deal, partly because of amt. you cannot retro actively fix amt. that would hit millions of people. it's a very, very big deal. very, very costly. everyone would get blamed for it. then there's another things that are part of the deal that you could wait for. payroll tax, that's $160 million. we have obama care taxes. we know those are going through. >> the payroll tax number going up again? >> payroll t
right now. i think one of the reasons the markets is down in futures trading is concern about the fiscal cliff. what happens after the 1st of january to the markets if we go over the fiscal cliff? >> well, you know, it's -- you're going to see a sell off because it's going to be a hit on earnings. you always have to look at the news stories and does that affect forecasted earnings or interest rates? and this does all of that so this will be a negative on the stock market. forecasts are anywhere from a 10 to 15% drop in the stock market based on earnings expectations and hit to earnings. this will be devastating to the economy, to the stock market and it needs to be, it doesn't look like it's going to happen, david. it looks like we're going to get a little bit of extension it it of the tax, the bush tax credits or the bush tax cuts and see unemployment benefits, you know, extended for about 2 million people. and as a result, we're going to see a lot of discussion and little results except higher taxes, that's for sure. >> and one thing that surprised me, we know that taxes will remain th
. not with the pending fiscal cliff and the threat of the $7.5 billion cut in nonentitled services. >> that fiscal cliff will hurt the city to the tune of almost $100 million right away. >> reporter: most of the cuts could be in health care, welfare programs for the poor, aids programs and housing. >> that's just an immediate hit. >> reporter: across the bay, alameda county supervisor predicted -- >> this is going to shred the safety net even more. the health clinics that serve the uninsured and under insured will get cut. our wic programs for mothers and we have severals sites that would also have a large cut. >> reporter: education would also take a hit. >> this would undo a lot of the good particularly special needs students would have the programs cut perhaps as much as 10% and the meals programs that so many of the students in california are growing up in poverty. a quarter of the students growing up in poverty and they need that meal. >> reporter: not just the immediate cuts, it's also the ongoing uncertainty that comes from the stalemate in washington. a stalemate that bay area officials fear cou
, could we possibly be on the verge of a deal to avoid the fiscal cliff? you are looking live right now at the white house. that's where something big is going to be going on. just about seven hours from now, it will be the sight of a high stakes meeting with president obama and the leaders of congress. and to weigh in on this is doug, live in washington more details. >> good morning. they're going to be talking today and maybe that in and of itself is something of an achievement. issues will be on the table in that room in the white house as they all gather around and one of the items that's being discussed here in washington, believe it or not, is the price of milk. more on that in just a moment. but the president did, in fact, return early from his vacation in hawaii yesterday. he is coming back for this big meeting at the white house. we don't know if there is a new white house strategy here or if there is going to a new offer from the president, but many republicans are not terribly hopeful. >> any time you announce a meeting publicly in washington, it's usually for political theat
in our country's history. there will be a deal to, quote, avert the fiscal cliff. your viewers should demand more than a deal, they should demand a solution. >> do you think it's the right idea to cave in if really the republicans do not believe this is the right thing for the best interests of the country, to go ahead and agree to having more expenditures, to not cutting any of these entitlements. this reckless spending has to come to an end at some points. we have the future and the children to think of. >> so much for a balanced approach. the bammed approach as near as i can do do exactly what i want exactly what when i want you to do it. but the reality is the house democrats will could be he -- gt enough involvements my vote will not one of them and the group of conservatives i run with will not be among the votes that vote for the so-called deal. but it will pass and we will be arguably further from a solution than we were this time last year. >> so you think a temporary fix is going to come to pass but ultimately, like you said, you and several of your colleagues that feel very
, but we're also reading they're taking a step back right now on the very issue of the debate of the fiscal cliff. is it really the tea party congress members or not? >> i think it's hard to predict exactly who might get blamed if something doesn't happen. that seems too far in the future for me but if you look at all of the piece that is are in play, the one thing we haven't talked about is the debt limit. it is going to be hit soon. and then the treasury can use extraordinary measures to extend it but caused the fight that made us sit here today to talk about the quote/unquote fiscal cliff and the republican haves the boehner rule to ask for a dollar in cut for every dollar the limit is extended. the debt limit being money that we have paid and obligation to pay. and so, if democrats and republicans aren't come together now, and a month and a half from now republicans come back to the table and say we need more cuts, i don't know what the president is going to look to to cut. seems like a complicated mess that they have on their hands and the more clarity they get now, the easier it's goi
remember. >> a lot of sports. fiscal cliff. i don't know what to tell you. i will talk about it more right now. maybe we'll do that monday but you have to promise we'll be together. the fiscal cliff has been one of the factors holding back consumer spending this holiday season. joining us now, marshall cohen, from mtv group, chief analyst industry. you scoured all of retail to find this. he has pinstripes going. i've heard about stripe on stripes and you have stripes with the cuff links. >> it's all about a blending. >> a blending. there's stripes but it's not too busy. he ae's got the right. >> years ago he commented on my pocket square and trying to work something else. >> people very fashion forward, i want to try to copy. >> you have that tie going today. that makes a nice story. >> let me ask you. i just had someone not even concede price fixing could hurt innovation with drug prices. do you know absolutely for sure the fiscal cliff hurt retail sales? >> it actually did. it took the psychological factor into the mix. at first it didn't look like it did. consumers respond two weeks bef
go over the fiscal cliff. where both sides are right now. you used the oven? boom ♪ [ male announcer ] pillsbury crescents. let the making begin. here's a better idea. pillsbury grands! flaky layers biscuits in just 15 minutes the light delicate layers add a layer of warmth to your next dinner. pillsbury grands biscuits let the making begin. >>> good morning. a frigid start. 30s and 40s outside our door. giving you a beautiful spot of union square. a great day too ice skate and maybe do some shopping. >>> at least two firefighters have been shot while responding to a house fire in new york. it happened shortly before 6:00 eastern time near lake ontario. firefighters were shot as they arrived at the scene. one is said to be in satisfactory condition. >> the other's condition is unknown at this hour. firefighters are not fighting the fire right now because they are waiting for police to finish evacuating the area as they search for a shooter. the fire has now spread to other homes. >>> the bickering continues a week away from the fiscal cliff. talks to try to prevent automati
days away from the fiscal cliff and there are real consequences to millions of americans if no deal is cut. congressman elijah cummings and ryan grim of the huffington post are here with the latest. a tea party giant stages a coupe with his own office. the details on dick armey's hostile takeover. the nra is catching heat from all directions. >> i don't think the nra is listening, i don't think they understand. >> georgetown university law professor, david cole on the growing drumbeat against the nra. >>> six days until the price of milk shoots up to $8 a gallon. why house republicans are take ing america to the dairy cliff. >>> and civil liberty groups take on torture in zero dark thirty. >>> if no deal is reached, the nation will go over the fiscal cliff in a little more than five days and house republicans are doing nothing more than posturing. president obama is flying back to washington tonight from his christmas vacation in hawaii to make one last attempt to get a deal before midnight new year's eve. the senate is returning and will be in session tomorrow for the same purpose.
the fiscal cliff because that stuff happens automatically but the idea of a debt ceiling increase, they've told obama if you want a trillion dollars in higher debt and he needs that eight times in the next decade, you have to cut spending a trillion dollars. >> here, i'll ask you again. 0 i'm a republican congressman and i signed your tax pledge to not raise taxes. if someone says here's a bill that says if you sign this we will cut taxes for 98% of americans. how could you say no? my point is, the administration is winning the war of optics. if they played it out this way, do they not win? >> well, they've won the war of optics so far because everything's been done in camera. it's been done inside closed walls. if c-span and fox and -- were able to videotape the negotiations, the kind of thing we're learning now about how obama said i have no interesting in cutting spending, he's been lying for two months about his negotiationing position in the room. if people knew that, there would be serious unhappiness in his lack of seriousness with cutting spending. if the negotiations were here
. right now we have very well leverage in the debate over the fiscal cliff because that stuff happens automatically but the idea of a debt ceiling increase, they've told oba if you want a trillion dollar in higher debt and he needs that eight times in the next decade, you have to cut spending a trillion dollars. >> here, i'll ask you again. 0 i'm a republican congressman and i signed your tax pledge to not raise taxes. if someone says here's a bill that says if you sign this we will cut taxes for 98% of americans. how could youay no? my point is, the administration is winning the war of optics. if they played it out this way, do they not win? >> well, they've won the war of optics so far because everything's been done in camera. it's been done inside closed walls. if c-span and fox and -- were able to videotape the negotiations, the kind of thing we're learning nowbout how obama said i have no interesting in cutting spending, he's been lying for two mons about his negotiationing position in the room. if people knew that, there would be serious unhappiness in his lack of seriousne with
vacation for the hard reality of the fiscal cliff negotiations. the president called all four congressional leaders last night in an effort to reach a deal, but did that call fall on deaf ears? jared bernstein, former chief economist to vip biden, as well as a contributor. i want to start with the new statement from senator mitch mcconnell's office coming out says last night he called other lead serious. the leader is happy to review what the president has in mind, but to day date the majority has not put forward a plan. jared, is that good they're actually speaking, however far apart as it may sound, at least they're talking? >> it's a bit good. better to be talking than north. the unfortunate thing are the words they're saying. i don't hear much compromise or kind of conciliation in the statements we've heard thus far. i do hear a lot of theatrics, you go first, no you go first. it's strange to say the democrats haven't put forth any legislation on this, because in fact they have. in fact, a democratic majority in the senate passed a bill that's pretty similar to the compromise that the p
? >>> fears of the fiscal cliff are taking some of the holiday cheer right out of wall street. cnn's alison kosik watching the post-christmas trading as well as a threat to the economy that could come even sooner than the cliff? let's start with the stocks, though. >> reporter: yes, stocks, very quiet today, very quiet session. not many investors in the game today. expect that to be the case the rest of the week. the fun tny thing, this is usuay the time we see the santa claus rally. the dow down 46 points. no deal on the if i'm not mistaken. that's spoiling the rally so far. it could be worse, though. we've seen much harsher reaction to all the congressional shenanigans in the past that could be a sign the economy is in better shape this time around. the s&p 500 is still on track for a 13% gain for the year. >>alison, what's the container cliff? >> reporter: the container cliff could be serious stuff. it could be a major threat to the economy. but it's also something that can be avoided. this container cliff is the name the national retail federation has given to this situation if workers
this fiscal cliff is really all about. we're talking about automatic tax cuts that will go into place as well as drastic, draconian cuts in entitlement programs, medicare, and even the military. the military can suffer very greatly if this goes through the sequestration. if you look at all this, you realize something has got to be done, because $2,000 per average taxpayer will be added to them over the course of this year if they fail to do something, what is going to happen? what is your prediction, brad? >> well, my prediction is, that we're likely to go over the cliff because the president also knows, kelly, in 2013 any deal made then can be retroactive to january 1st. so the draconian cuts we're talking about can be wiped away with the stroke of a pen should a deal be made. i believe the president believes he is in stronger position if he deal doesn't go through now because he believes he will have better leverage in january. kelly: sear lena? >> he has better leverage i agree with brad about that. he can come to congress after january 1 and pass tax cuts only for those making under $250,
republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it through the senate and the house and that would need democratic and republican support. now, all eyes on the senate because they will reconvene on the 27th, thursday. and senate majority leader harry reid, it is up to him, really, to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up for those making more than that. but you can imagine, hala, that's going to be very hard for some republicans, maybe even some democrats to sign on to. >> right. and for just about a week ago, it was common to hear a deal will be hammered out. over the last several days we're hearing more and more that potentially this is a reality for americans in eight days' time. your sources in the administration, is there a real concern among some of the people you're speaking with that indeed this fiscal cliff will become a reality? >
of congress, if we go off the fiscal cliff and then go to all these shenanigans to patch something together. >> ken walsh, chief white house correspondent dante for u.s. news and world report. >> thank you. >> one year since a tragic christmas fire that captured the nation's attention. now, a shattered mother is speaking about the fire that killed her mother, her father and three daughters. her story, one year later, is next. [ male announcer ] this is sheldo whose long day setting up the news starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. back to the news. till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! one police officer who survived the apparent shooting ambush in upstate new york wishes he could have done more to help the volunteer firefighters who ultimately died. it happened christmas eve. police say a gunman apparently set a fire as a trap to lure first res
friends on new year's eve. right now you talk about the fiscal cliff and also hitting this potential debt ceiling limit as well. $16.4 trillion we could arrive at on new year's eve. >> juliet: yeah. let's hear what congressman tray goudie had to say about this. he was on greta the other night. >> i assure you that there will be a resolution either before the new year or shortly after the new year. that's the good news, that there will be a deal. the bad news for you and your viewers is that there won't o'clock a solution. it will be a panacea or some magical alickser, make us all feel a little better. but shortly after the new year, we're also going to get a letter from timothy geithner asking us to raise the debt ceiling for the 80th time in our country's history. so there will be a quote, move to avert the fiscal cliff. your viewers should demand more than a deal. they should demand a solution. >> juliet: kimberly guilfoyle had that. >> kelly: here is a problem with all that, and i hope the congressman is right, because you want to have a sense of optimism. the president talked about be
say they arrested four people, nobody was hurt. >>> happening now, president obama is in the air right now on his way back to washington from hawaii to try to reach a deal to avoid the so-called fiscal cliff. he boarded air force one overnight and will be arriving in maryland around 8:45 this morning. the president cut short his vacation. democrats and republicans have just four days to reach a deal before mandatory budget cuts and tax increases kick in january 1st. >>> new senator representing hawaii will arrive on capitol hill today. lt. governor will fill the seat left vacant by the death of senator daniel inouye. he was chosen from a list of three yesterday. the 40-year-old has served as state lawmaker and chairman of the hawaii democratic party. he will serve until an election in 2014. >>> lance armstrong has until today to appeal the ban imposed on him. he lost his seven titles december 6th, when the international cycling<ç÷%Ñ union banned him from the sport for life. penalties came after the united states anti-doping agency hit him with similar sanctions for using banned subs
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